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Fly News Breaks for September 20, 2019
Sep 20, 2019 | 07:41 EDT
As previously reported, Argus analyst John Staszak upgraded Aecom to Buy with a price target of $44. The analyst cites the company's transition to a "professional services business model", reducing its G&A costs by $225M by exiting from noncore markets, reducing its debt, and spinning off its management services division. Staszak further believes that Aecom's Design & Consulting Service business will remain a stable source of revenue even in a slowing economy amid the growing demand for road water projects. The analyst raises his FY19 and FY20 EPS views by 2c to $3.04 and $3.34 respectively.
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